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China’s Haier Bids for Maytag

Haier Group, the top Chinese appliance maker, and private equity giants Bain Capital and Blackstone Group have bid $1.28 billion for Maytag Corp., topping Ripplewood Holdings LLC’s offer for the U.S. washer maker.


Maytag said in the statement issued late Monday in New York it had received a preliminary bid of $16 a share from a consortium made up of Haier, Bain and Blackstone. That would be about 14 percent higher than a $14 per share offer by a consortium that includes Ripplewood, Goldman Sachs’ GS Capital Partners and J. Rothschild Group.


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